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Henlys

November 2002

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • HNL
Interim results for the six months to 30 June  showed a fall inpretax profit from £17.5m to £8.6m on turnover down from £384m to£325m.  These were disappointing numbers and mainly reflect delaysin orders at Blue Bird, Henlys’ largest subsidiary, which contributed60% of  profit in the period.  Blue Bird, which makes yellow school buses in the USA, was hit bythe decision of US school districts to delay purchases of buses untiltheir 2002/3 fiscal year which started on 1 July.  However, as thenew school year starts in mid-September, the districts want delivery atthat date which has pushed expected sales into the third and fourthquarters.  In the first six months, Blue Bird sold 6,770 units ag ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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